With the UK no longer a member of the European Union as of January 31, 2020, there is significant discussion in the recruiting community about how things are going to change and what to do to prepare for the future. Since many of the world’s most vital industries—life sciences among them—depend on international workers, there is great concern that businesses in the UK stand to lose a significant chunk of their workforce.
By some estimates, UK employers might experience a workforce loss of almost 20 percent, a very concerning metric in an already tight labor situation. To address the problem, organizations must improve and optimize working conditions, both for their current employees and any future recruits.
With a potentially rocky road ahead, boosting recruitment levels should be a primary focus. A simple solution isn’t always forthcoming, however, especially when raising wages isn’t an option. A creative approach is necessary, both to attract recruits in the short-term, and to retain quality employees over the long-term. At the same time, maintaining productivity and engagement levels is critical to success.
Strategies to Improve Recruiting Success
As you can well imagine, for healthcare and life sciences, achieving recruiting success in a post-Brexit economy is an undertaking with complexities that go well beyond primary staffing.
With a job market that tends to favor the candidate, a competitive benefits package is a pivotal factor.
One of the most critical benefits you can offer is flexibility. There is a multitude of studies that suggest that candidates value a strong benefits package over higher compensation. Six out of ten people in one study stated that they would accept a lower salary from a company if they were offered the right perks. The same study found that eight out of ten surveyed suggested that they would be more interested in additional benefits than they would a pay raise.
What Matters the Most?
In the realm of employee benefits, some matter more than others. We hear a great deal about progressive benefits offered by startups, especially in the tech realm, but how much do employees really value them?
When designing a benefits package, it is essential to think about your employees, their lifestyle, and their needs. A long list of meaningless perks won’t attract the recruits you want, but the right ones might just be the deciding factor when it’s time to choose.
Additionally, the work environment itself is a critical factor. In an industry like life sciences that is constantly under pressure to innovate, employees have notable concerns.
Here are just a few:
Offering your employees a flexible schedule is an attractive benefit to most workers. This could be having the ability to work from home on occasion. In some clinical and research scenarios, the power to set their own schedule improves work-life balance and job satisfaction. In an industry where employees often see their job as part of who they are, blurring the lines between home and work life is not necessarily a bad thing.
Strong and Positive Culture
A company’s culture expresses itself in a multitude of ways. Some of the hallmarks of a great culture are communication, respect, trust, and the sharing of ideas. Stability is also crucial, as it gives team members a place to thrive and grow on a professional level. To many employees, the combination of people, culture, and brand are synonymous with job satisfaction.
To maintain a positive cultural environment, strong leadership is essential, both from an organizational and managerial standpoint. Frequent communication, transparency, and the encouragement of stated values must come from the top down to be effective.
Making a Difference
In today’s breakneck pace, it’s easy to get lost in the day-to-day tasks. When we’re considering long-term engagement and employee satisfaction, however, there is a lot of value in knowing that what we do contributes to the overarching cause.
For example, even entry-level employees should know how much their contributions matter in the big scheme of things. When they do, there is greater motivation to excel at their job. With improved engagement comes more interest in the company as a whole, creating opportunities for growth and advancement, even in the lower ranks.
Opportunities for Career Growth
Additional training, mentorship, and opportunities for continuing education and professional enrichment are significant factors in job satisfaction. From a recruiting standpoint, a strong educational component is always a bonus.
When a candidate knows that the position they are applying for is not static, it can be inspirational, and doubly so when there are examples to draw from. One example could be an employee who started as a research assistant and rose through the ranks to become a team leader.
In conclusion, the post-Brexit recruiting landscape might be more challenging than it ever was. Understanding what you can do to attract and retain quality employees sets you apart from other companies, ensuring your needs for talent are met.
Reach out today to schedule a consultation with a recruiting specialist, and let’s talk about the way forward.